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Market Report

Tuesday, 19-June-2012

NSE

  • Uncertain global and domestic cues weighed on investor sentiments through today's trade but the market managed to pull back from the lows of the day and close with smart gains. Banks, oil & gas and FMCG lent good support after early weakness though metals proved a bit of a drag. Sensex shut trade at 16859, up 153 points and Nifty at 5103, up 39 points from the previous close.

  • Top Nifty gainers today were Ambuja Cements, GAIL and Siemens Ltd while losers included Sesa Goa, Sterlite Industries and Infosys.

  • There is crucial support for Nifty at 5040 and if this is breached, then we could see levels of 4950, says Prabir Kumar Sarkar, technical analyst, on Zee Business. Key resistance levels are 5100-5130, he adds. He advises selling Bank Nifty on rallies.

  • The Nifty could remain in 100-point range with resistance at 5130-5150, says analyst Sarvendra Srivastav, independent technical analyst, on NDTV Profit.

  • The market is likely to stay rangebound, within 4980 and 5100, says Sandeep Wagle of Aptart India on ET Now. Don't expect 4980-4950 to breach but if it does then we could fall to 4800 and then even 4600, he adds.

  • Market is likely to be slightly choppy and in consolidation mode, says Mitesh Thacker, technical analyst, on ET Now. Downside appears capped at 4980-5000, he adds. On the Bank Nifty, a crucial level is 9600 below which weakness would set in, he says.

NIFTY 3-Month